Chief Economic Advisor Krishnamurthy Subramanian has begun presenting the Economic Survey 2019-20 on Friday. The survey projects India's economic growth at 6 per cent to 6.5 per cent in the next financial year starting April 1, saying growth has bottomed out.
Earlier in the day, Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2019-2020 in Parliament, after which, the Lok Sabha was adjourned till 11am on Saturday. Sitharaman tabled the annual document after President Ram Nath Kovind addressed a joint house as the budget session of Parliament commenced on Friday.
A day ahead of Budget 2020, all eyes will be on the Economic Survey, which will be presented by Chief Economic Adviser (CEA), Krishnamurthy V. Subramanian at 1:45pm. Economic survey is an annual document presented of the finance ministry, reviews economic progress and issues over the past 12 months and details the performance of major developmental schemes introduced by the government. It also highlights the performance of important government policies and their impact. It is prepared by a team headed by the CEA.
also read
- 8-8.5% GDP growth expected in 2022-23: Economic Survey
- Bond yields rise as higher than expected fiscal deficit estimate surprises bond markets
- Govt committed to farmers’ welfare, says FM; agri credit target hiked to Rs 16.5 lakh crore
- Union Budget: Finance minister ‘deceived’ people of India, says Chidambaram
Friday's economic survey assumes significance as the Indian economy is going throug one of its worst phases of slowdown in recent past.
According to Reuters, the economic survey is seen projecting growth of 6 per cent to 6.5 per cent in the next year starting April 1, boosted by a series of fiscal measures to revive demand that the government is likely to announce in the budget, a source said on Friday.
